Durham School of Architectural Engineering and Construction
Date of this Version
4-16-2013
Citation
JOURNAL OF CIVIL ENGINEERING AND MANAGEMENT ISSN 1392-3730 / eISSN 1822-3605 2016 Volume 22(2): 187–198 doi:10.3846/13923730.2014.897966
Abstract
Existing research on construction time-cost tradeoff issues rarely explore the origin of the crashing cost. Crashing cost function was either assumed without much justification, or came from historical data of some real projects. As a result the conclusions of the papers can hardly be used to guide allocations of labor and equipment resources respectively. The authors believe Cobb-Douglas function provides a much-needed piece to modeling the cost functions in the construction time-cost tradeoff problem during the crashing process. We believe this new perspective fills a gap of existing time-cost tradeoff research by considering project duration, labor and equipment cost as parameters of the Cobb- Douglas production function. A case study was presented to show how the proposed framework works. Our conclusion is that introducing Cobb-Douglas function into time-cost tradeoff problem provides us extra capacity to further identify the optimal allocations of labor and equipment resources during crashing.
Included in
Architectural Engineering Commons, Construction Engineering Commons, Environmental Design Commons, Other Engineering Commons
Comments
2016 Vilnius Gediminas Technical University (VGTU)